We know that the right song can be more motivating than a personal trainer. So combining your favourite song and a pair of Denon Exercise Freak headphones allows you to take control of your exercise regime.

We know that the right song can be more motivating than a personal trainer. So combining your favourite song and a pair of Denon Exercise Freak headphones allows you to take control of your exercise regime.

Business professionals know that with all of the distractions one can encounter when travelling it’s tough to keep focused. Block out external noise and enhance the audio performance with a pair of comfortable Denon travel headphones.

DENON DEMONSTRATES ITS LEADERSHIP IN ADVANCED HOME ENTERTAINMENT NETWORKING AND CONNECTIVITY AT CEDIA

September 08, 2005

Pine Brook, NJ. (September 9, 2005) - At CEDIA 2005, Denon Electronics, a world leader in high-performance home theater products, is reaffirming its commitment to leadership in advanced home entertainment products, whole-home connectivity and total user convenience. Reflecting this commitment, the company is announcing an overall “brand refresher” initiative that includes a new corporate tagline, Power. Precision. Passion. Performance., as well as the launch of a newly revamped website (www.usa.denon.com) , with informational and navigational features designed to better serve the company’s custom installer, consumer and retailer customers. The broad range of new Denon products being showcased at CEDIA are designed to enhance and expand the home entertainment experience, and give custom installers exciting new home theater solutions for every consumer demand and budget.

According to Stephen Baker, Denon’s President, “The custom installation marketplace has always been important to Denon, and in today’s era of ‘whole-home entertainment connectivity,’ their feedback is essential in helping our engineers develop new and beneficial products. Our latest generation of components, for instance, include a wide range of simple, easy-to-use custom installation-friendly features, such as assignability of power amps, separate on/off remote controls, DENON LINK functionality, 3rd party connectivity, independent zone controls and more. We did all these things so that our products will be able to provide the custom installation marketplace with what it demands – predictability, reliability, and utility.”

Firmware Updates and More Interoperability for Two Denon A/V Receivers Denon is providing a key firmware upgrade that will benefit all current owners of the company’s popular award-winning AVR-5805 and AVR-4806 A/V receivers. Customers will be able to purchase the upgrades and install it themselves via the built-in RS232 or Ethernet ports on their Denon components. The upgrade will permit audio streaming from either an Escient FireBall or a Windows Media Player equipped PC. Once connected, the Denon receivers will have complete ‘Command and Control’ over either the FireBall or PC, via the on-screen display and Denon remote control. Users can even connect both an Escient FireBall system and a PC at the same time, with individual control functions. Additional features and functionality included in the firmware upgrade will be Internet radio access and control, as well as a web browser interface. At CEDIA, Denon will demonstrate the upgrade and its lifestyle benefits in the AVR-5805 receiver. More details about the upgrades will be available on the Denon website (www.usa.denon.com) in late-September.

Denon DVD: Two New Single Disc Including Universal functionality at $349 Denon is continuing to lead the way in high-performance DVD players with the introduction of a new line of advanced single-disc progressive scan models. The company’s DVD lineup, with models ranging in price from $149 to $3,500, includes two brand new players, the “universal” DVD-1920 (SRP: $369) and the budget-priced DVD-1720 (SRP: $149). Both new players join Denon’s award winning line of high-performance units, including the company’s flagship

DVD-5910 (SRP: $3,500), the universal models DVD-3910 (SRP: $1,499) and DVD-2910 (SRP: $699), as well as two 5-disc DVD changers with WMA capability, the DVM-1815 (SRP: $329) and DVM-2815 (SRP: $469). With the two latest additions to Denon’s DVD player lineup, the company is following through on its commitment to providing solutions for every home entertainment application and budget.

S-Series – Featured in CEDIA House Denon’s two recently introduced 2.1-channel surround sound DVD home entertainment systems, Models S-301 (SRP: $1,599) and S-101 (SRP: $999), are the world’s first 2.1 home entertainment systems to provide simple, convenient connectivity and control of today’s portable digital music devices, including the popular Apple iPod series of portable players. The company will exhibit both new S-Series systems in the Denon “House” at the company’s CEDIA Booth. The S-301 system will be installed and controlled via a Crestron remote control system, utilizing its RS-232C control port for interoperability and demonstrating how it is the ideal solution for a secondary or tertiary system in any living environment.

About Denon Electronics Denon is a world leader in the manufacture of the highest quality home theater, audio and software products. Denon is recognized internationally for innovative and groundbreaking products and has a long history of technical innovations, including the development and first commercialization of PCM digital audio. Denon Electronics is owned by D&M Holdings Inc.

About D&M Holdings Inc. D&M Holdings Inc. (TSE II: 6735) is based in Tokyo and owns the Denon, Marantz, McIntosh Laboratory, Boston Acoustics, Snell, D&M Professional, ReplayTVâ, Rioâ and Escientâ brands. Denon, Marantz, McIntosh and D&M Professional are global industry leaders in the specialist home theater, audio/video consumer electronics or professional audio markets, with a strong and long-standing heritage of manufacturing and marketing high-performance audio and video components. Boston Acoustics, with its signature Boston Sound,™ is a leader in premium loudspeakers for home and audio markets. Snell is a super premium speaker brand. The ReplayTV, Rio and Escient brands represent award-winning technologies in digital home entertainment. Additional information is available at
www.dm-holdings.com.

# # # DISCLAIMER Statements in this news release that are not statements of historical fact may include forward looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. Forward looking statements involve a number of risks and uncertainties surrounding competitive and industry conditions, market acceptance for the company's products, risks of litigation, technological changes, developing industry standards and other factors related to the company's businesses. The actions referred to in this press release are not an admission or acknowledgement of any claim or allegation. The Company reserves all of its rights.